Background

In March 2022, in response to a Strategic Plan 2024 initiative, the Banco de España established its Evaluation Programme to assess and improve the effectiveness of its activities, promote the rational use of public resources and propel the quality management of its services.

After the programme running for two years, the OIE was created in September 2024, reporting directly to the Governing Council, to strengthen the independence of evaluations and to support the council in fulfilling its responsibility for institutional governance and overseeing the activities performed by the Banco de España.

With this change, the Bank takes a further stride toward positioning itself at the forefront of central banking in the areas of efficiency and transparency.